First Trust Advisors LP Decreases Holdings in Colgate-Palmolive Company $CL

First Trust Advisors LP trimmed its position in shares of Colgate-Palmolive Company (NYSE:CL) by 3.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,904,290 shares of the company’s stock after selling 92,108 shares during the quarter. First Trust Advisors LP’s holdings in Colgate-Palmolive were worth $247,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Colgate-Palmolive by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock worth $6,633,570,000 after acquiring an additional 1,026,985 shares during the period. Geode Capital Management LLC lifted its holdings in Colgate-Palmolive by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 22,103,901 shares of the company’s stock valued at $1,754,657,000 after acquiring an additional 304,426 shares during the period. Morgan Stanley lifted its holdings in Colgate-Palmolive by 1.7% in the fourth quarter. Morgan Stanley now owns 19,246,217 shares of the company’s stock valued at $1,520,836,000 after acquiring an additional 323,367 shares during the period. Bank of New York Mellon Corp boosted its position in Colgate-Palmolive by 172.5% in the first quarter. Bank of New York Mellon Corp now owns 12,521,545 shares of the company’s stock worth $1,067,211,000 after purchasing an additional 7,927,238 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Colgate-Palmolive during the 4th quarter valued at about $861,670,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Performance

Shares of CL opened at $91.69 on Thursday. The company has a quick ratio of 0.67, a current ratio of 1.02 and a debt-to-equity ratio of 16.33. The business has a 50-day simple moving average of $90.70 and a two-hundred day simple moving average of $88.86. The stock has a market cap of $73.37 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 4.77 and a beta of 0.33. Colgate-Palmolive Company has a 52 week low of $74.54 and a 52 week high of $99.33.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Colgate-Palmolive had a return on equity of 386.76% and a net margin of 10.04%.The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the previous year, the firm earned $0.91 EPS. The business’s quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts expect that Colgate-Palmolive Company will post 3.81 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, July 20th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $2.12 annualized dividend and a yield of 2.3%. Colgate-Palmolive’s payout ratio is currently 82.49%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Rothschild & Co Redburn set a $100.00 price target on shares of Colgate-Palmolive and gave the company a “buy” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. raised their price objective on shares of Colgate-Palmolive from $96.00 to $104.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Weiss Ratings upgraded shares of Colgate-Palmolive from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $102.00 target price on shares of Colgate-Palmolive in a report on Monday, May 4th. Finally, Bank of America decreased their price target on shares of Colgate-Palmolive from $105.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, April 10th. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.82.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.